Investing
52-Week Low Club (CCJ, CPN, CECE, CROX, GGP, TWB)
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As the markets went back to triple-digit losses, there were many more new stocks (and repeat performers) on the 52-week low club today. Many of these look just like an explosion in a city at night. Not all of these closed on 52-week lows, but these did hit new intra-day lows of consequence:
Cameco (NYSE: CCJ)… Cigar Lake update showed more water entering the uranium mine hole.
Calpine (NYSE: CPN)… rose back above old $15.00 low, but shares down by one-third since July 1.
CECO Environmental Corp. (NASDAQ: CECE)… on added earnings concern; with a name like that you’d think they would do better as shares are down 70% from highs.
CROCS Inc. (NASDAQ: CROX)… barely a new low but still feels like a hammer on the toes.
General Growth Properties (NYSE: GGP), repeat performer, stock down over 50% from 2007 highs.
Tween Brands (NYSE: TWB)… bad earnings, bad name… pounced with 40% drop.
If you added in many of the European, Asian, and emerging market ADR’sor ETF/FUND categories this list could go on and on (and on…).
Jon C. Ogg
August 13, 2008
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